Spam prevention
Ambassador
2,623,979
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 

   Great way to alienate the entire mortgage lending industry.  And, savvy consumers don't like having documents like that shoved in their face.

    Frank and Brian are a hoot...  I haven't listened to them in a long time.  Thanks for the link.

 

Apr 10, 2018 02:24 PM
Rainmaker
441,939
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

I pledged to remain positive with my posts for the rest of the week. So I will say that I am POSITIVE that I would not be happy if my broker required me to present something like this to my clients. I am also POSITIVE I would do what is best for the client. I am an independent contractor and prefer to remain an independent contractor.

Apr 10, 2018 06:32 PM
Rainer
140,560
Richard L. McKinney P.A.
Atlantic Shores Realty Expertise - Port St Lucie, FL
For Results that MOVE you on the Treasure Coast!

If I were mortgage broker or title company, I would run from their agents and certainly not send them referrals. 

Apr 10, 2018 05:49 PM
Ambassador
3,191,533
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Among the many reasons I am not a fan of KW.  

I am not a fan of cool aid either. 

Apr 10, 2018 04:24 PM
Rainmaker
1,449,712
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I remember them unveiling this at the reunion last month (no I wasn't there, I just read reports).  Wouldn't surprise me and they wouldn't be the first company to do that.  We have a few out here that push their lenders, escrow and title on their clients.

Apr 10, 2018 03:00 PM
Rainmaker
1,578,023
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I'm not kw agent anymore, but I was with them a bit, you encouraged to use in-house vendors. 

Apr 10, 2018 02:49 PM
Rainer
373,164
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

We have a company here that has all of their products bundled in house. I can't say they are a requirement, but they are encouraged to use the in house vendor I believe.

Apr 10, 2018 05:48 PM
Rainmaker
1,092,866
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

No: is the answer to your question.

If you watch the video, be sure to watch all the way through to the part where they strongly suggest that you join the broker of their choice.

Brian and Frank seem to be more than a little bit afraid of some competition in their mortgage business.

Apr 10, 2018 02:38 PM
Rainmaker
5,581,678
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

most buyers have their own contacts for financing.... and if they don't, they like more than one name and institution....I hate in-house financing sources.... it's a turn off....

Apr 10, 2018 02:29 PM
Rainmaker
902,197
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

John, you must understand, it's all just a part of their cult-ure! Just having fun, many genuinely great KW agents out there!

Apr 10, 2018 02:26 PM
Rainmaker
4,356,375
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I'm not a KW agent but the concept doesn't surprise me.

Apr 10, 2018 02:06 PM
Rainmaker
1,394,728
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Seems like ever since KW founder Gary Keller, "predicted" the demise of the brick & mortar, they've decided to bolster up in other ways. 

Apr 10, 2018 02:02 PM
Rainmaker
3,986,050
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I for one would not work for a company that restricts my business!!!!!!

Apr 10, 2018 09:08 PM
Ambassador
4,711,314
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

If I was made to complete that on my clients, I would be moving my license to another brokerage faster than your mother can unbutton her overalls!

Apr 10, 2018 08:07 PM
Ambassador
3,987,310
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

If my brokerage tried to tell me where to send my buyers for financing, I would be looking for a new company and probably hang my own shingle.

Apr 10, 2018 06:51 PM
Rainmaker
2,211,651
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I am not a KW agent. 

Apr 10, 2018 03:00 PM
Rainmaker
4,723,095
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The cost of money is the cost of money. How they collect it is their business. I am not a big fan of in house mortgage companies. Everybody thinks their model is the best! The question is not drinking the Kool Aid, its which flavor you drink!

Apr 10, 2018 02:11 PM
Rainer
54,890
Jordan Ayan
The Lifestyle Collection - Scottsdale, AZ
Luxury Market Expert, CLHMS,Million Dollar Guild

No.  I have heard about this, but would never use it. I refuse to use any affiliated businesses. How is that working in the best interest of my client 

Apr 11, 2018 05:40 AM
Rainmaker
3,071,034
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Bob Crane nailed this one!

Apr 11, 2018 05:12 AM
Rainmaker
4,666,654
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

And one more reason I refuse to associate myself with companies that try to "force" me to use their "preferred" vendors be they lenders, inspectors, etc.

My brokerage has an in-house lender, a title company, an insurance company... they never require us to use any in-house resources. They appreciate if we present them to our clients, but there's no pressure. We have other brokerage in town (big names) who call their agents on the carpet if in-house resources did not provide the service. I'm always amazed that agents let them do that.

Apr 11, 2018 04:59 AM
Rainmaker
381,462
Lynda White
Bluegrass Homes & Farms Realty, Agent Know How - Louisville, KY
Admin. Mgr., Keller Williams Realty

Thank you for providing this link. I find the comments very interesting too. 

Apr 11, 2018 04:43 AM
Ambassador
2,165,960
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

I don't know, but wouldn't be surprised. They aren't the only large real estate firm with it's own mortgage broker that agents are encouraged to recommend.

Apr 11, 2018 03:19 AM
Ambassador
5,909,978
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

It is not available in all states

Apr 10, 2018 08:39 PM
Rainmaker
555,292
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Not a Kool Aid Drinker

Apr 10, 2018 07:39 PM
Rainmaker
5,770,338
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

John, 

What? 

Apr 10, 2018 02:04 PM
Rainer
86,514
Mike Kelly,CRS,CIPS
The MJKelly Team - Santa Rosa, CA
"One of Sonoma County's Natural Resources"

"Thou doth protest too much"! Instead of denigrating the competition how about putting your NOSE to the grindstone and make more loans.  In another post you go after a company for being "disruptive". Get over it buddy! As a Realtor licensed since 1978 I can't tell you how many companies have tried to place THEIR lender between me and a buyer. I was with Merrill Lynch over 30 years ago--what do you think THEY wanted us to do? Every major company has or had an in-house lender. I'm NOT required to fill out any form before I meet with a buyer. Just give me a "pre-approval" letter and I'm good to go. KW has many new agents and is a recruiting machine. It's looking at the bottom line. I'm a 11 year KW Realtor, an investor in my market center and have a profit share tree which some months gives me a nice check. I don't slam your company so lay off KW! 

Apr 11, 2018 06:22 PM
Rainer
23,827
Andrea Moore
Welcome Home Loans, LLC - Winter Garden, FL

Do they really think brokers charge that much?

Apr 11, 2018 08:36 AM
Rainmaker
1,199,124
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Selling the Main Line & Chester County

Every large brokerage pushes you to use in house lenders, title and insurance, that is where they make their money, it definitely is not from real estate brokerage. But as independant agents you can offer your clients options and let them make the decision. 

Apr 11, 2018 08:24 AM
Rainmaker
920,968
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

KW has the integrity of a MLM company and they have not backed off the 'multi-streams of income' philosophy. You can see the KW mindset at work by observing the ownership of Active Rain.

And if one has drank the Kool Aid, then its all good.

CB has been PUSHING preferred lenders for two decades now.

Apr 11, 2018 05:19 AM
Rainmaker
4,433,859
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for sharing 

Apr 11, 2018 04:39 AM
Rainmaker
1,199,277
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

wow

 

Apr 10, 2018 07:20 PM
Rainmaker
1,045,215
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

hmm lets see we aren't supposed to badly of other brokers or realtors so... guess I have nothing to say 

Apr 16, 2018 04:43 PM
Rainmaker
708,451
Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

Absolutely NOT!  

Apr 16, 2018 01:17 PM
Rainmaker
5,490,324
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

The link did not work, so not sure.

Apr 14, 2018 03:04 PM
Ambassador
4,318,302
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Meussner - if this is true, glad I am on another ship.

Apr 11, 2018 10:51 PM
Rainmaker
630,637
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

I have always believed the agent should refer buyers to several mortgage lenders who have performed well for the agent in the past and let the buyers make up their own mind. 

Apr 11, 2018 02:17 PM
Rainmaker
470,787
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

Any lender can structure a loan with no additional origination fees, processing fees, underwriting fees and work in a lender credit of $1000.

   

Apr 11, 2018 08:54 AM
Rainmaker
7,235,990
Roy Kelley
Retired - Gaithersburg, MD

I am not a KW agent.

Apr 11, 2018 08:25 AM
Rainmaker
536,893
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

First time seeing this.  hmmm

Apr 11, 2018 06:55 AM
Rainmaker
4,799,763
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Oh oh!

Apr 11, 2018 06:34 AM
Rainmaker
3,404,074
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

At a recent listing appointment, the seller told me of local agents offering this and how much they hated it. Consumers are becoming savy again looking for service over other things

Apr 11, 2018 06:00 AM
Rainmaker
4,483,463
Richard Weeks
Dallas, TX
REALTOR®, Broker

Unless I beleaved in that lender I would not think of recommending.

Apr 11, 2018 05:27 AM